Overall, USD/CAD is ranging across.
The Canadian Building Permits m/m data (Forecast: 2.1%, Previous: 1.3%) will be released later at 2130 (GMT+8).
The OPEC+ held oil production hike unchanged at 400,000 barrels-per-day for February. The organization also felt that the COVID Omicron variant is likely going to have a short-lived impact on global energy demand.
Currently, USD/CAD is trading around the key level of 1.27. Its next support zone is at 1.26100 and its next resistance zone is at 1.29000.
With the positive outlook on the global oil demand from OPEC+, look for selling opportunities of USD/CAD if it breaks below the key level of 1.27.
The Canadian Building Permits m/m data (Forecast: 2.1%, Previous: 1.3%) will be released later at 2130 (GMT+8).
The OPEC+ held oil production hike unchanged at 400,000 barrels-per-day for February. The organization also felt that the COVID Omicron variant is likely going to have a short-lived impact on global energy demand.
Currently, USD/CAD is trading around the key level of 1.27. Its next support zone is at 1.26100 and its next resistance zone is at 1.29000.
With the positive outlook on the global oil demand from OPEC+, look for selling opportunities of USD/CAD if it breaks below the key level of 1.27.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.